Public Sector Pension Investment Board Has $35.36 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Public Sector Pension Investment Board raised its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 947.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 180,981 shares of the company's stock after acquiring an additional 163,700 shares during the quarter. Public Sector Pension Investment Board's holdings in Zoetis were worth $35,360,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC acquired a new position in Zoetis during the third quarter valued at approximately $31,000. First Personal Financial Services bought a new stake in shares of Zoetis during the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Zoetis in the 3rd quarter valued at approximately $33,000. Quarry LP grew its stake in shares of Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company's stock valued at $36,000 after buying an additional 153 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Zoetis during the first quarter worth $43,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

NYSE:ZTS traded up $1.04 during mid-day trading on Thursday, reaching $176.74. 2,315,768 shares of the company's stock were exchanged, compared to its average volume of 2,968,865. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The firm has a market capitalization of $79.74 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 2.70 and a beta of 0.90. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The business's fifty day simple moving average is $184.51 and its two-hundred day simple moving average is $180.81.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The firm's quarterly revenue was up 11.6% on a year-over-year basis. Analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Thursday, October 31st. Zoetis's payout ratio is currently 32.52%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ZTS shares. Stifel Nicolaus lifted their price objective on shares of Zoetis from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Argus upgraded Zoetis to a "strong-buy" rating in a research note on Friday, August 9th. Piper Sandler lifted their target price on Zoetis from $195.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on Zoetis from $225.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Finally, BTIG Research lifted their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, August 12th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Zoetis presently has a consensus rating of "Buy" and a consensus price target of $221.44.

About Zoetis

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.